Teacher Retirement System of Texas raised its holdings in shares of Berry Global Group Inc (NYSE:BERY) by 79.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 522,605 shares of the industrial products company’s stock after purchasing an additional 230,905 shares during the quarter. Teacher Retirement System of Texas’ holdings in Berry Global Group were worth $28,153,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Millennium Management LLC grew its position in shares of Berry Global Group by 70.8% in the 4th quarter. Millennium Management LLC now owns 1,670,155 shares of the industrial products company’s stock worth $79,382,000 after acquiring an additional 692,030 shares in the last quarter. Highland Capital Management LLC acquired a new position in shares of Berry Global Group in the 4th quarter worth approximately $1,381,000. Legal & General Group Plc grew its position in shares of Berry Global Group by 8.9% in the 4th quarter. Legal & General Group Plc now owns 92,871 shares of the industrial products company’s stock worth $4,414,000 after acquiring an additional 7,587 shares in the last quarter. Three Peaks Capital Management LLC acquired a new position in shares of Berry Global Group in the 4th quarter worth approximately $2,264,000. Finally, Mackay Shields LLC acquired a new position in shares of Berry Global Group in the 4th quarter worth approximately $4,562,000. Hedge funds and other institutional investors own 96.70% of the company’s stock.
In related news, EVP Jason K. Greene sold 2,545 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $52.50, for a total transaction of $133,612.50. Following the completion of the transaction, the executive vice president now owns 2,595 shares in the company, valued at approximately $136,237.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jason K. Greene sold 7,455 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $52.63, for a total value of $392,356.65. Following the transaction, the executive vice president now owns 7,705 shares of the company’s stock, valued at approximately $405,514.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,000 shares of company stock valued at $1,650,969. Insiders own 1.60% of the company’s stock.
BERY has been the subject of several research reports. Zacks Investment Research upgraded Berry Global Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Tuesday, January 15th. Morgan Stanley initiated coverage on Berry Global Group in a research report on Wednesday, January 16th. They issued an “equal weight” rating and a $53.00 target price for the company. Finally, BMO Capital Markets lifted their target price on Berry Global Group from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, March 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $61.50.
Shares of BERY opened at $49.31 on Wednesday. The company has a market capitalization of $6.53 billion, a PE ratio of 14.63, a PEG ratio of 1.37 and a beta of 1.03. The company has a quick ratio of 1.19, a current ratio of 2.01 and a debt-to-equity ratio of 3.72. Berry Global Group Inc has a 52 week low of $40.50 and a 52 week high of $59.16.
Berry Global Group (NYSE:BERY) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.14). The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.04 billion. Berry Global Group had a return on equity of 32.42% and a net margin of 5.03%. Berry Global Group’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. Equities analysts expect that Berry Global Group Inc will post 3.64 earnings per share for the current year.
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About Berry Global Group
Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, flashing and seaming tapes, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.
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